General Regulatory Compliance Basics 2

Question 1

Which federal agency enforces workplace safety regulations in the United States?

Accepted Answer

OSHA

Answer

EPA

Answer

EEOC

Answer

FTC

Question 2

What is a 'compliance audit'?

Accepted Answer

A systematic review to assess adherence to regulatory requirements

Answer

A financial review of company profits

Answer

A background check on new employees

Answer

An annual tax filing process

Question 3

Under GDPR, what must organizations do when a data breach occurs?

Accepted Answer

Report it within 72 hours to the relevant supervisory authority

Answer

Wait 30 days before notifying affected individuals

Answer

Only report breaches that affect more than 1,000 people

Answer

Notify the FBI within 24 hours

Question 4

What does 'due diligence' mean in a compliance context?

Accepted Answer

Reasonable steps taken to avoid harm or satisfy a legal requirement

Answer

Paying taxes on time

Answer

Hiring a compliance officer

Answer

Conducting employee performance reviews

Question 5

Which law prohibits discrimination in employment based on race, color, religion, sex, or national origin?

Accepted Answer

Title VII of the Civil Rights Act of 1964

Answer

HIPAA

Answer

Sarbanes-Oxley Act

Answer

The Fair Labor Standards Act

Question 6

What is the primary purpose of the Bank Secrecy Act (BSA)?

Accepted Answer

To require financial institutions to assist in detecting and preventing money laundering

Answer

To protect consumer bank deposits

Answer

To regulate interest rates on savings accounts

Answer

To insure bank accounts up to $250,000

Question 7

What is 'whistleblower protection' in compliance?

Accepted Answer

Legal protections for employees who report violations of laws or regulations

Answer

Insurance coverage for company executives

Answer

A policy preventing leaks of trade secrets

Answer

Protection from competitor espionage